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HomeMy WebLinkAboutItem 2a: Accept the donation of $2,000 to the Arcadia Public Library for the Jackie Faust-Moreno trust fund.IFOR,��9'yd r lucucnururcd AuRUtl f�lYgl Unity STAFF REPORT Library and Museum Services Department DATE: October 16, 2012 TO: Honorable Mayor and City Council FROM: Mary Beth Hayes, Director of Library & Museum Services I! By: Darlene Bradley, Library Services Manager �0 SUBJECT: ACCEPT THE DONATION OF $2,000 TO THE ARCADIA PUBLIC LIBRARY FOR THE JACKIE FAUST - MORENO TRUST FUND Recommendation: ACCEPT SUMMARY In June, 2012, the family of Jackie Faust - Moreno, former Director of Library and Museum Services, asked the Library to set up a trust fund in her memory that would be used to purchase middle school materials. A book plate will be placed in each item purchased with these funds. Until now, contributions to this account have been between $25- $50. The Library has recently received a gift of $2,000 specifically for this trust fund from Mr. Dave Moreno. The purpose of this agenda item is to accept this donation. BACKGROUND The Library has historically received small monetary gifts from the community to honor or remember a person with the purchase of a book. In most cases, these monetary gifts have gone into the Library Gifts and Grants account, a bookplate has been created and placed in the designated item and a notation made in the Library catalog. There have been a very few instances when a larger amount of money has been given for a specific purpose and a specific trust fund has been set up. This allows additional money to be donated over time to that specific trust fund for a specific purpose as in this case. DISCUSSION Since June, several donations have come in specifically for the Jackie Faust - Moreno Trust Fund. These donations have been in the $25 -$50 range. A trust account was set up with the City's Finance Department and this account will be tracked through the City's Pentamation accounting system, thus providing an established accounting mechanism for tracking and for transparency purposes. Donations to the Jackie Faust- ACCEPT THE DONATION OF $2,000 TO THE ARCADIA PUBLIC LIBRARY FOR THE JACKIE FAUST - MORENO TRUST FUND OCTOBER 16, 2012 Page 2 of 2 Moreno Trust Fund enable the Library to honor the family's wishes by using the donations for middle school materials which was an area of particular interest to Jackie Faust - Moreno. Recently, Mr. Dave Moreno presented a check to the Library staff in the amount of $2,000 to help fund the Trust in his late wife's name. By accepting this donation, it will be placed in the Jackie Faust - Moreno Trust Fund to be used directly by the Library to purchase middle school materials. FISCAL IMPACT The acceptance of the $2,000 donation would be a positive fiscal impact for the Library. It will provide additional revenue to specifically purchase middle school materials for the Library collection. RECOMMENDATION It is recommended the City Council accept the donation of $2,000 to the Arcadia Public Library for Jackie Faust - Moreno Trust Fund. Approved: Domini C ity Manager